METEORIC RESOURCES NL — Capital/Financing Update 2018

Nov 11, 2018

==> picture [185 x 49] intentionally omitted <==

12 November 2018

MAIDEN DRILLING TO COMMENCE AT JOYCE

• Joyce Cu-Co-Au Project confirmed as Meteoric’s highest priority target based on thick sequences of undrilled massive and disseminated sulphides exposed at surface

• An initial 8-hole drill program for 500m to commence at Joyce Project imminently

• Drilling program planned to intersect target zones immediately below massive sulphide outcrops and within the recently re-modelled EM conductivity targets

• Historical high-grade assays of 11.0% Cu, 0.3% Co and 8.07g/t Au confirm the potential of this system

• In addition to its ongoing Canadian exploration program, the Company is actively reviewing other projects of varying commodities and jurisdictions to add further value to the Company’s portfolio

Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”), a Canadian cobalt focussed explorer is pleased to advise shareholders that drilling is scheduled to commence at the Joyce Cu-Co-Au Project in Western Ontario, following recent reconnaissance fieldwork completed by the Company and upon receipt of statutory approvals.

Recently modelled AeroTEM plates (zones of high electrical conductivity) are coincident with outcropping massive sulphide mineralisation and areas of strongly magnetised rocks that have positive rock chip assays. Based on these observations, the Company has confirmed Joyce to be its highest priority target and is confident in commencing its maiden 8-hole for 500m diamond drill hole program imminently (See Table 1 and Figures 1 & 2).

Meteoric Resources MD, Dr Andrew Tunks commented:

“Over recent months we have completed regional project reviews and concluded Joyce to be our most prospective target across our Canadian cobalt portfolio, driven largely by Tony Cormack’s mapping of significant zones of massive sulphide exposed at surface and their close correlation the major EM anomalies. Incredibly these targets have never been drilled.

“The Joyce drill target generation program is now complete and we plan to commence drilling as soon as final government approvals arrive. Effectively we will be drilling at shallow EM targets that sit immediately below massive and disseminated sulphide mineralisation mapped at surface.

“Although the initial plan is to test the western end of the system for only 500m of drilling, we will continually evaluate our success during the program and as such, elect to extend the program further.”

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651

==> picture [185 x 49] intentionally omitted <==

Table 1: Joyce Project - Maiden 8-hole Drilling Program

Hole ID	EASTING	NORTHING	AZIMUTH	DIP	HOLE DEPTH(m)
JOY01	499056	5656594	160	-75	90
JOY02	498954	5656696	160	-75	50
JOY03	499013	5656720	160	-75	50
JOY04	499085	5656677	0	-90	60
JOY05	499151	5656692	0	-90	60
JOY06	499229	5656713	0	-90	60
JOY07	499486	5656810	170	-50	65
JOY08	499555	5656822	170	-50	65
				Total:	500

==> picture [497 x 370] intentionally omitted <==

Figure 1: Joyce River 8-hole (500m) drilling program - long section and plan view with AeroTEM modelled conductors

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651

==> picture [185 x 49] intentionally omitted <==

The Joyce Project is located in North-Western Ontario and lies within the Uchi Greenstone Belt (see Figure 2) and covers an area over 4.6kms[2] prospective for cobalt-copper-gold mineralisation.

Joyce contains large areas of mafic and ultramafic intrusive rocks covering a strike length in excess of 1.8km. These mafic and ultramafic rocks are the host rock type for cobalt, copper and gold mineralisation and contains semi-massive to massive sulphide mineralisation.

==> picture [488 x 366] intentionally omitted <==

Figure 2: Joyce River Co-Cu-Au Project Location - Regional Geology and Structure

Massive sulphide at Joyce is hosted within a foliated sheared pyroxenite-bearing ultramafic as bands and coarse aggregates of chalcopyrite, pyrrhotite and pyrite. Previous sampling completed by prospector Ray Frank in 2008 & 2010 highlighted the presence of high-grade Cobalt (0.3%); Copper (11.0%) & Gold (8.07g/t), no assaying for nickel was completed[1] .

1 Refer ASX announcement dated 14 May 2018 for further details

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651

==> picture [185 x 49] intentionally omitted <==

Other Cobalt Targets

The Company is still not in receipt of the final data from the recently completed Airborne EM surveys at Iron Mask, Mulligan East and Beuchamp due to a delay on the contractors’ side and beyond Meteoric’s control. Data will be released to the market as soon as it becomes available.

==> picture [332 x 251] intentionally omitted <==

Figure 3: Meteoric Resources 2018 Cobalt Exploration Program - Ontario

Contact:

Dr Andrew Tunks - Managing Director

Managing Director M +61 400 205 555 ajtunks@meteoric.com.au

Victoria Humphries – Investor Relations NWR Communications M +61 431 151 676 victoria@nwrcommunications.com.au

Competent Persons Statement

The information in this announcement that relates to exploration and exploration results is based on information compiled and fairly represented by Mr Tony Cormack who is a Member of the Australasian Institute of Mining and Metallurgy and a consultant to Meteoric Resources NL. Mr Cormack has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cormack consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. Additionally, Mr Cormack confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651